Thursday, 11 February 2010 17:35

Pay as you drive

Your driving behaviour determines your premium

Pay as you drive is a term used in the insurance industry to describe the idea that each individual's driving behaviour and thus their individual risk be used to determine the premium they pay. 
The most important input parameters are:

• Mileage driven
• Time of day
• Speed
• Acceleration
• Regional zones

In order to get reliable data, the model requires the insured vehicles to be equipped with embedded systems. The systems send individual driving profiles to the insurance company at regular intervals – encrypted and sufficiently abstract to prevent misuse. 
Tiny Flea is our answer to pay as you drive. The services for determining and transferring data have already been implemented and used in several pilot projects in cooperation with insurance companies.